Wesbanco Bank Inc. Cuts Position in Moelis & Company (NYSE:MC)

Wesbanco Bank Inc. decreased its position in shares of Moelis & Company (NYSE:MC) by 11.2% during the fourth quarter, HoldingsChannel reports. The firm owned 8,709 shares of the asset manager’s stock after selling 1,100 shares during the period. Wesbanco Bank Inc.’s holdings in Moelis & Company were worth $643,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new stake in shares of Moelis & Company in the 3rd quarter valued at $49,017,000. Pier Capital LLC purchased a new stake in Moelis & Company during the third quarter valued at about $8,152,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Moelis & Company during the third quarter valued at about $6,970,000. Natixis Advisors LLC increased its holdings in shares of Moelis & Company by 13.7% in the third quarter. Natixis Advisors LLC now owns 804,860 shares of the asset manager’s stock worth $55,141,000 after buying an additional 96,720 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Moelis & Company by 322.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 98,000 shares of the asset manager’s stock valued at $6,714,000 after acquiring an additional 74,800 shares during the last quarter. Institutional investors own 91.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MC. Keefe, Bruyette & Woods upgraded Moelis & Company from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $71.00 to $86.00 in a research report on Friday, December 20th. Morgan Stanley raised shares of Moelis & Company from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $66.00 to $92.00 in a research note on Monday, December 9th. UBS Group increased their price target on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company decreased their price objective on shares of Moelis & Company from $78.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Moelis & Company presently has an average rating of “Hold” and a consensus price target of $70.67.

Moelis & Company Trading Down 1.0 %

Shares of NYSE MC opened at $77.74 on Friday. The firm has a fifty day simple moving average of $74.88 and a two-hundred day simple moving average of $69.58. Moelis & Company has a 12 month low of $46.24 and a 12 month high of $81.60. The firm has a market capitalization of $5.82 billion, a PE ratio of 146.68 and a beta of 1.39.

Moelis & Company (NYSE:MC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $273.76 million during the quarter, compared to the consensus estimate of $273.58 million. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. Moelis & Company’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) earnings per share. On average, sell-side analysts predict that Moelis & Company will post 1.03 earnings per share for the current year.

About Moelis & Company

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.